TON Foundation partners with Curve to launch TON-based stable swap using CFMM technology.
The new stable swap project targets enhanced trading stability and reduced price volatility on TON.
Submissions for development teams open until September 24, fostering community-driven project growth.
The TON Foundation, which is a nonprofit organisation responsible for the growth of the TON blockchain, has joined forces with Curve Finance, a popular decentralised exchange (DEX). This partnership plans to bring out a new concrete stable swap on the TON project that is meant to optimize trade in stablecoins while boosting experiences on the TON blockchain.
https://twitter.com/CurveFinance/status/1836031985132679235
The new plan will leverage Curve Finance’s popular constant-function market maker (CFMM) technology to swap stablecoins. This technology will help enhance the project's efficiency, which aims to facilitate the trading of stablecoins and eliminate the effects of price volatility during transactions. The partnership is a major step in developing and expanding the opportunities of the TON ecosystem to meet the constantly increasing interest in stablecoin services.
Advancements in Trading Technology
Curve’s CFMM technology is believed to introduce several improvements in trading mechanics on the TON blockchain. This technology is designed to reduce the level of slippage and price inconsistency, which would make trading a more stable affair. Michael Egorov, the founder of Curve Finance, will also join the project as an advisor to provide insights on the protocol mechanics and potential directions for its expansion.
Vlad Degen, DeFi Lead from TON Foundation, highlighted the importance of this collaboration, stating, "With the integration of advanced market-making solutions, we are poised to enhance the trading experience on our platform significantly. This move also responds to the unprecedented demand for USDT on TON, the fastest-growing USDT launch ever."
Process and Community Engagement
To maintain transparency and community involvement, the TON Foundation and Curve Finance will conduct a public selection process to choose an independent development team for this project. This approach ensures that the project not only aligns with the technical standards of both entities but also resonates with the community’s expectations and needs.
Interested teams are encouraged to submit their applications through a designated form available online. The submission window will remain open until September 24. This selection process is crucial in fostering an open and collaborative development environment, inviting broad participation from developers worldwide.
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